Recursion Pharmaceuticals, Inc. (RXRX) Stock Price & How to Invest

Recursion Pharmaceuticals is a Salt Lake City-based, clinical-stage technology-enabled biopharmaceutical company that aims to industrialize drug discovery. Its platform combines automated wet-lab biology, high-throughput cellular imaging that generates petabytes of proprietary experimental data, and machine-learning models that map relationships between genes, compounds, and disease, layered with Exscientia's automated precision molecular design. Recursion intends to make money three ways: partnership and collaboration payments (upfront fees, research funding, and milestone payments from large pharma companies that use its platform), future royalties on any partnered drugs that reach market, and value from its own wholly owned pipeline of clinical candidates. Today the company is pre-revenue in the product sense: reported revenue is small (roughly $6.5 million in Q1 2026) and comes mostly from partnerships rather than drug sales.

Recursion went public in 2021 and has built its profile around scale and compute. It owns BioHive, an NVIDIA-built supercomputer (BioHive-2 is powered by dozens of NVIDIA DGX H100 systems and hundreds of H100 GPUs), and NVIDIA has been both a technology partner and an investor, which fueled the market's framing of Recursion as an AI-biotech bellwether. In 2024 Recursion agreed to merge with UK-based Exscientia in a roughly $700 million all-stock deal that closed and combined two AI drug-discovery leaders, bringing together partnerships with Roche-Genentech and Bayer (Recursion) and Sanofi and Merck KGaA (Exscientia). Since the merger the company has reworked and prioritized its pipeline, cut operating expenses, and emphasized extending its cash runway while advancing a handful of Phase 2 clinical programs.

The central risk is that Recursion has no approved drug and remains deeply unprofitable, posting a net loss of roughly $117.5 million in Q1 2026 against only about $6.5 million of revenue, so the entire valuation rests on platform promise rather than proven output. AI-driven drug discovery as a category is still unproven at the finish line, and skeptics note that no AI-originated compound has yet delivered a blockbuster approval, leaving open the possibility that the platform advantage does not translate into clinical success. Recursion's Phase 2 candidates could fail in trials like most clinical-stage biotech assets do, and even partnered programs depend on decisions outside Recursion's control. Although the company guides to a cash runway into early 2028, continued losses mean it may need to raise capital again, and equity raises would dilute existing shareholders; the stock has also been volatile, trading well below prior highs.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Recursion Pharmaceuticals, Inc.'s investor relations page or your broker.

• Revenue (Q1 2026): ~$6.5 million (mostly partnership and milestone revenue, missed analyst estimates)
• Net loss (Q1 2026): ~$117.5 million (narrowed from the prior year on cost cuts)
• Cash and investments: ~$665 million (as of March 31, 2026)
• Guided 2026 operating cash burn: less than ~$390 million; stated runway into early 2028 without new financing
• Market capitalization: ~$1.9 billion (June 2026)
• Profitability and dividend: Not profitable; pays no dividend

Because Recursion is pre-profit with minimal revenue, traditional earnings multiples do not apply, and the figures that matter most are cash on hand, the rate of cash burn, and how long the runway lasts before the company must raise money again. Q1 2026 showed narrower losses driven by sizable cuts to R&D and overhead, which extended the stated runway into early 2028, but revenue came in well below analyst expectations. For a story like this, valuation is ultimately a bet on future platform output and partnership milestones rather than on current financial performance.

If you want RXRX exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

There are three common ways to get RXRX exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (ARKG), which spreads the position across many companies. Or build it into a focused thematic basket, so RXRX sits alongside other stocks that express the same thesis.

Walnut takes the basket route. Describe a thesis where RXRX fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

Recursion right now is a clinical-stage, platform-first AI biotech, not a product company: its main driver is a discovery engine plus a deep partnership book (Roche-Genentech, Bayer, Sanofi, Merck KGaA and others, with management citing more than $20 billion in potential future milestones), and the metric that matters most is cash, roughly $665 million as of March 31, 2026 with a stated runway into early 2028 at a guided 2026 burn below $390 million. If you believe that scaled AI plus proprietary biological data will eventually translate into approved drugs and royalty streams, the question becomes sizing and overlap with the rest of a portfolio, not timing; the risk is that the platform stays a promise, the wholly owned pipeline (Phase 2 programs like REC-4881 and REC-994) disappoints in the clinic, and continued losses force dilutive financing before any drug reaches the market.

Whether RXRX is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is RXRX a buy?, and where the stock could go from here in the RXRX stock forecast.

For income investors, whether RXRX pays a dividend and how the payout looks is covered in does RXRX pay a dividend?